Are You Making Any Music Business Money?

Attend any music conference, music industry networking event, talent showcase or open mic and ask people are they making any money in the music business and they'll say yes. The truth is most people are not making money in the music business if they were would major labels continue to downsize, would traditional music retail stores, regional music distributors and independent record labels continue to shut their doors?

The silver lining is with a strong desire, great people, great music and technology you can make money from the music business. No one person has "the" answer for you. It is a collective group of thoughts, resources, information and music industry connections that will help you create your own solutions toward making money in the music business.

If you'd asked me ten years ago if I thought I'd be making money from writing, publishing and selling music industry books, providing music business consulting and marketing services, I'd say no. As I look back it wasn't out of the realm of reason however. In high school and college I did relatively well in English, Philosophy and those courses that required a great deal of reading and writing. Before it was popular or common to have a independent record label I'd had one at the age of 16.

Over the years it became apparent that flexibility in life and the music business was essential for long-term success and making money. Keep your eyes and ears open to various opportunities for your desires for riches and wealth may come in ways you least expected.

As a recording artist or garage band your goal may be to sign a recording contract and release new music every few years. As a successful recording artist or garage band you now have what John F. Christmas, Entertainment Lawyer coined as "fame equity." Fame equity gives you the ability to create mutually beneficial relationships with companies that want to use your popularity to promote their product or service, thereby creating another revenue stream (way to make money) for you. The cool thing is you don't have to be a nationally known recording artist, although it helps. Because of my local and regional fame equity in the music business in the southeast, I've been able to acquire more professional and polished clients to consult. I've also seen how Ray Hamilton, President of the L.O.D. (Legion of Doom) DJ's has grown his music business by increasing his own fame equity.

To make money in the music business you must keep your eyes and ears open, as your window of opportunity may be right around the corner, network at music conferences, music showcases and open mics and expose yourself to new information and resources about the music business, such as that found in the Music Industry Connection Book Series.